FTX and Opensea topped the Forbes Fintech list with FTX valued at $32 billion to claim the lead while Opensea was valued at $13.3 billion
FTX, Opensea Hits $32 Billion, $13.3 Billion Respectively
Sam Bankman-crypto Fried’s exchange and trading platform FTX, valued at $32 billion, beat off other crypto fintech to claim the lead. The crypto exchange based in the Bahamas raised a $500 million fund earlier this year, bringing its total valuation to $32 billion.
Opensea, an NFT marketplace valued at $13.3 billion, appears on the list for the first time and ranks second among the nine crypto companies. With over 1.5 million accounts transacting on the platform, Opensea continues to dominate the NFT sector.
Other crypto fintechs on the Fintech 50 list include Alchemy, which is valued at $10.2 billion; AVA Labs’ native token Avax, which is valued at $8.5 billion; Chainalysis, which is valued at $8.6 billion; and Circle, the inventor of the USDC, which is valued at $9 billion.
Despite the bear market and the significant losses sustained recently as a result of the Terra ecosystem’s fall and massive selloffs in the crypto space, it appears that crypto enterprises are still holding their own and consolidating crypto’s overall power in Fintech.
NFts Increasing Popularity
Cryptocurrencies are accessed through crypto exchanges, which allow users to buy, sell, and swap them. According to CoinmarketCap, Binance is the world’s biggest crypto exchange, with a trading volume of $11.10 billion in the last 24 hours, followed by FTX.
Centralized exchanges facilitate around 99 percent of crypto transactions, implying that they handle the vast majority of trade traffic.
Meanwhile, NFTs continue to ride the wave and people continue to invest in them, despite the fact that they’ve only been available since 2014. The market for NFTs reached $41 billion in 2021, despite the fact that they’ve only been around since 2014.
NFTs are stored on a blockchain, which is a decentralized public ledger that keeps track of transactions.
Despite regulatory concerns and misgivings, crypto exchanges and the NFT industry continue to grow, with new users being added on a regular basis.